Sri Lanka eyes stronger economic ties with Maldives
Tuesday, 29 July 2025
President Anura Kumara Disanayake focuses on boosting trade, investment, tourism, fisheries and renewable energy during first official State visit to Malé Invites Maldivian investment in IT/AI, fisheries, tourism and infrastructure
- Leaders of SL-Maldives agree to boost air connectivity and deepen tourism cooperation
- Proposes fisheries cooperation—transit access and sustainable practices
- Urges joint efforts in renewable energy under ‘Clean Sri Lanka’ program
- Highlights education and employment as key contributors to both economies
- President AKD to address business forum and meet Sri Lankan diaspora in Malé
President Anura Kumara Disanayake yesterday said Sri Lanka is seeking to elevate its economic partnership with the Maldives, with a focus on trade, investment, tourism, fisheries, and renewable energy, during his first official State visit to Malé.
The visit, which coincides with the 60th anniversary of the establishment of formal diplomatic relations between the two Indian Ocean neighbours, underscored the growing importance of economic diplomacy in the region as both countries look to build post-crisis resilience.
Following bilateral talks with Maldivian President Dr. Mohamed Muizzu, President Disanayake highlighted a shared commitment to “diversifying the economic relationship” and welcomed greater Maldivian investment in Sri Lanka.
“Maldivian investors can always look at Sri Lanka as a trusted destination,” Disanayake said, adding that the country is actively developing a single-window system to streamline foreign investment.
He also pointed to Sri Lanka’s investor-friendly Technology Parks and sector-specific industrial zones as new avenues for Maldivian capital.
The President invited Maldivian businesspersons to invest in key growth sectors such as Information Technology and Artificial Intelligence (IT/AI), fisheries and agro-processing, tourism and leisure, real estate, and urban infrastructure.
In addition, trade and tourism were central to the economic discussions. While the Maldives is already a popular destination for Sri Lankan workers, both leaders agreed to further enhance bilateral air connectivity and explore new avenues in tourism collaboration, given its role as a major foreign exchange earner for both economies.
Disanayake also proposed enhanced cooperation in the fisheries and ocean economy, particularly in areas such as sustainable fishing practices and access to transit routes for Sri Lankan fishing vessels en route to the Arabian Sea. With both nations depending heavily on maritime resources, ocean-based cooperation was described as a “mutual economic imperative.”
Renewable energy was another major focus. The President reiterated Sri Lanka’s target to generate 70% of its electricity from renewables by 2030 and proposed partnerships with the Maldives in this area. He also outlined the country’s broader sustainability agenda under the ‘Clean Sri Lanka’ program, which parallels the Maldives’ solid waste management initiative.
Education and employment ties were acknowledged as longstanding economic contributors. “Thousands of Sri Lankans work in the Maldives, contributing to its economy, while Maldivian expatriates and students benefit from Sri Lanka’s professional and academic services,” Disanayake added.
With plans to address a business forum and engage with the Sri Lankan community in the Maldives during the visit, President Disanayake underscored his commitment to advancing not just diplomacy, but tangible economic cooperation.
Modi on India-Maldives relations-As deep as the sea
‘As deep as the sea’: What PM Modi said on India-Maldives relations after talks with Muizzu
By Sohil Sehran Jul 26, 2025 HT
Prime Minister Narendra Modi said Maldives is India’s closest neighbour and key to its ‘Neighbourhood First’ policy and Vision MAHASAGR.
Prime Minister Narendra Modi on Friday said India and the Maldives are celebrating sixty years of diplomatic ties, describing the relationship as “older than history and as deep as the sea.”
Addressing a joint press meet with Maldives President Dr Mohamed Muizzu, PM Modi said, “This year, India and the Maldives are also celebrating sixty years of diplomatic relations. But the roots of our ties are older than history and as deep as the sea.”
“The commemorative postal stamp released today, featuring the traditional watercraft of both countries, reflects that we are not just neighbours but fellow travellers,” he added.
Reaffirming New Delhi’s regional commitment, the Prime Minister said, “India is the Maldives’ closest neighbour. The Maldives holds an important place in both India’s ‘Neighbourhood First’ policy and its Vision MAHASAGAR. India is proud to be the Maldives’ most trusted friend.”
India to support Maldives on defence: PM Modi
PM Modi also assured India’s continued support to the Maldives in strengthening its defence capabilities.
“India will always support the Maldives to strengthen its defence capabilities,” he said after holding talks with President Muizzu.
Modi added that the growing security cooperation between the two nations reflects the depth of their trust. “Mutual cooperation in the field of defence and security is a testament to mutual trust,” the Prime Minister said.
He also announced a major financial commitment to the island nation, saying, “We have decided to provide a line of credit of USD 565 million to the Maldives.”
On trade, he said both countries have initiated discussions on a broader economic partnership. “Talks on a free trade agreement between India and Maldives have started,” he said.
To strengthen investment ties, PM Modi added, “India and Maldives will work towards finalising a bilateral investment treaty.”
Prime Minister Modi’s two-day visit to the Maldives comes soon after his UK trip and is significant as President Muizzu came to power in 2023 with an ‘India Out’ campaign.
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